SI Organization to finance QinetiQ acquisition with financing via UBS

By Jennifer Chiou

New York, April 22 - The SI Organization, Inc. announced that it has signed a definitive agreement to acquire QinetiQ North America Services and Solutions Group.

UBS is the lead bank on the acquisition financing, according to a market source.

According to a press release, the transaction will create a geographically dispersed organization with revenue of roughly $1.3 billion from across a broad spectrum of government customers.

The acquisition is subject to customary closing conditions, including the receipt of regulatory approvals in the United States. It is expected to close in the second quarter of this year.

Based in Chantilly, Va., SI is a provider of analytical and technical information services for the U.S. government. Reston, Va.-based QinetiQ delivers technology and responsive services focusing on the U.S. government.

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